SunSirs: The price of Sodium Bicarbonate Was Consolidating On October 31st

https://www.chemnet.com   Nov 01,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of sodium bicarbonate on October 31st was around 1,582 RMB/ton.

On October 30th, the sodium bicarbonate commodity index was 105.00 points, unchanged from the previous day, a decrease of 55.48% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 18.95% from the lowest point of 88.27 points on December 22, 2020. (Note: Cycle refers to September 1, 2020 to present)

Analysis review

According to the commodity analysis system of SunSirs, the price of sodium bicarbonate was running steadily, and the company's shipments were still acceptable. The price of sodium bicarbonate in Henan region was consolidating and operating. The factory price of sodium bicarbonate in Henan region was around 1,400-1,550 RMB/ton. Due to downstream demand for purchasing, it is expected that consolidation will be the main focus in the later stage.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash has been running to be weaker this week. The average market price as of October 31st was 1,584 RMB/ton.

Market outlook

SunSirs’ analysts believe that the price of sodium bicarbonate has been consolidating recently, with a general trend in the upstream raw material soda ash market. Downstream areas of sodium bicarbonate, such as pharmaceuticals, textiles, and food, have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. Overall, it is expected that the price of sodium bicarbonate will mainly fluctuate in the later stage, depending on downstream market demand.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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